Money Money Money ...
Some of the facts in this leaflet have changed in the light of the introduction of Top-Up Fees and new support arrangements available. This leaflet will be updated shortly.
Going to any University costs money. Some of the costs are upfront and immediate, others are repaid afterwards over a period of time when you are earning money in a job. The key to thinking about the financial side of going to University is to be clear from the start what you will be required to pay for, when, how, and what level of support from the government you are entitled to. It can seem daunting at first but it is manageable, and you won't have to live off porridge and baked beans just to get by.
This leaflet lays out very simply some of the costs you have to cover whilst being a student and some information about what help you can get. As you will see there is a lot of support available at Cambridge and aspects of life as a student in Cambridge that make it cheaper than you might think from looking at the medieval architecture.
Cost of Living
Cambridge has all the usual high street shops and you can get student discounts with your CUSU and/or NUS card in some of them. College food is subsidised and things like laundry facilities are provided in colleges cheaper than they would be commercially.
Rents and Charges
Cambridge has 8 week terms, so you only pay for the time you are residence and not in the vacations (holidays). Most colleges can guarantee you college accommodation for at least one year of your studies, and some can provide it for all three years. Average rents in college accommodation are about £63 a week. Provision varies between colleges in terms of bills but most rents include charges for electricity and water and the like. What is not necessarily included in rent is the Kitchen Fixed Charge (KFC). This is a Cambridge specific cost that is used to subsidise food produced in the college kitchens for students. The average KFC is £100 a term. Rent plus KFC therefore is on average about £73 a week, which compares favourably with most other universities.
Books
You need never buy a book as an undergraduate in Cambridge. There are three tiers to the libraries available to you here.
All colleges have their own libraries, whilst more specific subject matter can be found in departmental libraries. On top of that there is the University Library - which is a copyright library and has a copy of pretty much everything that is printed in the UK.
Study and Travel Grants
Some degree courses include compulsory or recommended field trips. Field trips tend to be subsidised so if you are lucky you could end up studying rock formations in Spain for hardly any money. Most colleges also offer Travel Grants to students for the vacations - particularly if you can show how your trip relates to, and is relevant to, your course.
Computers
Because there are so many computer rooms spread across the colleges and the departments and in libraries you don't need to bring your own. Computing facilities are available to all students for free and in most cases 24 hours a day. Most college rooms also have network connections so if you do have your own computer you can get on the internet and internal networks 24 hours a day for about £20 a term.
Transport
Transport costs at Cambridge are minimal. Most things in Cambridge are within walking distance (10-15 minutes), and if not a short bike ride will do it. Lots of students have bikes, and there are plenty of second hand bikes for sale in town. There is also a free University Bus (C8) that runs from Addenbrookes hospital to the arts faculty site (Sidgwick Site) to the Vet School, with some colleges along the way.
Entertainment and college social life
Many social events are college based and cheap as a result! CUSU also runs student nights in local clubs where you can get in for £3 with your CUSU Card. College bars are a lot cheaper than bars and pubs in town, and colleges have a range of facilities for drama and music nights. Colleges, and the University, also have sporting and music facilities available free of charge to students.
Clubs and societies operate on a college and a university level and are free for all students. There are a huge number of things to get involved in and there are many support and special interest groups for like-minded students as well as sporting, drama, and music groups. Have a look at the societies directory on the CUSU website, www.cusu.cam.ac.uk.
Long Vacation and Paid Work
Cambridge has long vacations (holidays). 6 weeks at Easter and Christmas, and 3 months over the summer. Vacations are an opportunity not only to catch up on work, but also to make some money. Many students take on paid internships that are good work experience as well. Hardly any students take on jobs during term time - mainly because everything is crammed into the eight-week term and there just isn't time for part-time work on top of everything else that is going on.
After Cambridge
All students will now graduate with a student loan to repay and possibly other debts. However, the Careers Service at Cambridge is very good and offers free advice to students on how to find, and apply, for jobs. Cambridge degrees are highly valued in the job market because of the .transferable skills. you learn from studying here. In this sense a Cambridge degree is a good investment. It is also important to remember that you repay your student loan to the government at a rate that is based on your earnings, in other words at a rate that you can afford. You also only pay the real rate of interest on a student loan so you pay back exactly what you borrowed and no more. Student loan debt is not like having a mortgage or a commercial loan to pay off, it is taken our of wages a bit like National Insurance contributions and if you are not earning much then you either pay less or you don't pay at all.
Fees, Funding, and Bursaries
How much do I pay in fees?
The tuition fees for Cambridge are the same as for any other UK university. The fee status of students applying for 2005 entry, or deferred entry for 2006, will adhere to the current fee system. Top up fees will not affect such students, so there is no need to worry about dramatically increased fees during your time at University because your fee status cannot change once you have started your degree.
For 2004-05 the standard annual tuition fee is £1,150 for all English universities.
What Support is Available?
There are three sources of extra support - the government, the University and your college.
Government support:
The Government offers fee remission and an extended student loan to students with low joint parental income.
It is very important you register with your Local Education Authority or equivalent even if you don't think you are eligible for any means-tested support to ensure that you are exempted from college fees that would otherwise be payable.
Supplementary grants:
Special grants towards living costs are also available for students with dependents, student parents, and disabled students.
You can get information from the government on financial help for students on their website: www.dfes.gov.uk/studentsupport/.
If you want more information about loans see the Student Loans Company website www.slc.co.uk or ring their helpline on freephone 0800 405010.The University:
Students at Cambridge have access to many bursaries and funds. The University is committed to ensuring that no student is forced to withdraw for financial reasons; help is available. Cambridge has retention rates of 99%. This is a testament to the University.s commitment to make sure that students are offered the kind of support they need to get through their studies, whether financial or pastoral through the tutor system.
Isaac Newton Trust Bursaries are available to UK students across the University and offers students from middle and lower income backgrounds up to £1000 for each year of their studies.
For further information see their website: www.newtontrust.cam.ac.ukColleges:
Most colleges have bursaries and funds available for student support. Some colleges offer rent rebates and hardship grants as well as in some cases short-term emergency help.